HomeMy WebLinkAbout4.4c Appraisal Proposal - Patchin Messner Valuation CounselorsPATCHIN MESSNER
VALUATION COUNSELORS
November 2, 2022
City of Cottage Grove Economic Development Authority
c/o Jaime Mann
Assistant to the City Administrator
12800 Ravine Parkway South
Cottage Grove, MN 55016
RE: Valuation Consulting and Appraisal Services
Patchin Messner Valuation Counselors
Sunset Pond Executive Offices
13961 West Preserve Boulevard
Burnsville, Minnesota 55337
Dear Ms. Mann:
This letter is intended to be a memorandum of understanding concerning the engagement of
Patchin Messner Valuation Counselors for the purpose of rendering valuation consultation
and/or appraisal services. It is understood by both parties that the nature of the assignment is
as follows:
Property Identification: Retail Strip Mall
7155 801h Street South, Cottage Grove, MN
PID 1702721220011
and
Manufacturing Solutions Property
7130 East Point Douglas Road, Cottage Grove, MN
PID 1702721220017
Purpose and Intended Use
of Appraisal: Estimate the current fee simple market value, for
potential total acquisition of the above -referenced
properties.
Requested Data: Building plans and permits, if any, and contact to
arrange an inspection of the properties.
Services to be Provided: Prepare market value appraisals in compliance with
the Uniform Standards of Professional Appraisal
Practice (USPAP) and the Minnesota Department of
Transportation Right -of -Way Manual.
Sunset Pond Executive Offices • 13961 West Preserve Boulevard • Burnsville, MN 55337
Phone: (952) 895-1205 • Fax: (952) 895-1521
Intended Scope of Work: Given the proposed acquisition, it is anticipated
that the scope of work would include application of
both the sales comparison and income approaches
to value.
Estimated Cost of
Services Rendered: $5,500 for each appraisal report, not to exceed
$11,000.
In addition, time after delivery of the appraisal
report, if necessary, will be invoiced separately at
the following professional hourly rates:
Pre -Trial
Preparation
Hearings/
/Meetin ss
Testimony
Jason Messner
$250.00/Hr
$375.00/Hr
Christine Mackaman
$200.00/Hr
$300.00/Hr
Andrew Totzke
$175.00/Hr
$275.00/Hr
Associate
Appraisers
$80.00 to
N/A
$100.00/H r
Delivery Date: We will furnish an electronic PDF and two bound
copies of each appraisal no later than June 1, 2023;
contingent on return of this authorization to
proceed and requested data. We can only complete
the appraisal by this date if we receive the requested
data in a timely manner.
Terms: Monthly invoices starting in June of 2022 and
amount due within 30 days following date of
invoice, with 1-1/2% per month interest charges
added to accounts not paid by that time.
Retainer Fee - to be
paid in advance: None
If you have any questions or comments after reading this letter of engagement, please feel free
to contact me at your convenience.
Respectfully submitted,
PATCHIN MESSNER VALUATION COUNSELORS
Jason L. Messner, MAI, CRE
PATCHIN MESSNER I VALUATION COUNSELORS
Authorization to Proceed
Client Name:
Individual Responsible:
Signature:
Date Accepted:
PATCHIN MESSNER I VALUATION COUNSELORS